The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

China

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
It is hard to think of an issue more likely to antagonise and enflame the wider Australian public than Chinese involvement in local agricultural land.
This is despite most only holding a hazy notion of either how agriculture as a sector works, or the mechanisms and reality of foreign direct investment. This area is laden with symbolism, whatever (and often despite) the underlying facts.
The tone of Treasurer Scott Morrison’s “preliminary decision" on the sale of the huge S. Kidman &amp; Co. estate to a predominantly Chinese-owned consortium, suggests it is much more likely the deal will not happen, even though the proposed buyers have until tomorrow to lodge an appeal.
Turning its back on investment from a source with the potential and importance of China would be a huge strategic decision for Australia. The Turnbull government may argue this is not what they have done with the Kidman decision.
But it certainly will be interpreted this way by some potential investors from China. It grates with the friendly messages being put out by, for instance, the large trade delegation that visited China in April. It threatens to show that this is all fluffy rhetoric and that, in many ways, as with the Huawei decision in 2012, Australia holds a hostile view to Chinese investment.
Land, particularly agricultural land, occupies an almost spiritual position in the Australian psyche. And the Kidman sale involved a significant chunk of it. The largest private estate in the country, it constitutes 1.3 percent of the whole Australian landmass. Even with Chinese investment becoming better known and increasing over the last ten years, this particular deal, at any time, would have been a contentious one.
The current political leadership in Canberra has shown they are as unwilling to break with the mould of the past and relinquish caution as their predecessors. Chinese President Xi Jinping may well have invited Australians to use “imagination and vision” over the bilateral relationship when speaking in Australian in late 2014, but his audience evidently hasn’t taken those words as having any application to an issue like this.
Chinese investment even outside of land has raised questions of just how closely the investors are linked to the Chinese state back home, what their real agenda is, and how much of a security issue they raise. A recent example was the Gillard government’s decision to prevent Chinese telecommunications giant Huawei from bidding for the National Broadband Network.
Land is about the most tangible thing there is to invest in. As Mark Twain once urged: “Invest in Land; they’ve stopped making it!” Any foreign purchase of land is often interpreted as an outsider buying a part of a country in a way that is fundamentally different from taking control of other parts of its economy. This is despite the fact that the latter may involve ceding far more influence than the former. Land is just so solid. Investment in it has a visibility and concreteness it enjoys in few other areas.
Morrison hasn’t spelled out in any detail the national security issues he may have based his preliminary judgement on. Regardless, there are two problems the Turnbull government now faces. The first is that despite much effort, no local potential replacement investor has been forthcoming. This is despite hopes expressed by Deputy Prime Minister Barnaby Joyce that one will eventually appear. If there were a queue of attractive counter bids, then the government would be in an easier position. In saying no to Dakang, they might be pushing away the only group at the moment that has the resources, desire and ability to buy an estate of this size.
And secondly, there is the larger political cost. For all the travails it is going through at the moment, China remains a global economic powerhouse. And an increasingly important part of that story is its outward investments. Chinese investment into the European Union has soared in the last 12 months. Australia has been a recipient for much of this global flow of outward money for several years now.
The problem is that for Chinese investors, the message they are getting from Australia is shifting from ambiguous (we like your investment, but only in certain areas) to ominously hostile. The Kidman decision reinforces this sense of hardening opposition to Chinese large scale investment.
If that does prove to be the way this decision is interpreted, and Chinese investors start to fall away, there currently appears to be no alternative source of new investment waiting in the wings.
Kerry Brown is professor of Chinese Politics; director, Lau China Institute, King's College London and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/kerry-brown-15537" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Kidman & Co: the mixed message for Chinese investors

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
In making a preliminary decision on the sale of S. Kidman &amp; Co to a Chinese consortium, the Treasurer Scott Morrison has shed some light on what the government defines as being in the “national interest”.
He describes the Chinese bid as being contrary to Australia’s national interes<a href="https://sjm.ministers.treasury.gov.au/media-release/050-2016/?utm_source=wysija&amp;utm_medium=email&amp;utm_campaign=Media+Release+-+Preliminary+decision+of+foreign+investment+application+for+purchase+of+S.+Kidman+%26+Co+Limited">t</a>, because:
“the form in which the Kidman portfolio has been offered as a single aggregated asset, has rendered it difficult for Australian bidders to be able to make a competitive bid.”
The decision was rationalised not on any of the pre-existing national interest test provisions, but rather the fact that Australian companies had struggled to make a competitive bid.
By doing this, the Treasurer has articulated a new policy objective, not previously part of the national interest test: that an Australian firm should have a substantial stake in the bidding process.
<h2>How is national interest defined?</h2>
The consortium bid for Kidman, the largest private land holding in Australia, was subject to approval by the Treasurer and the Foreign Investment Review Board (FIRB). All investments which are screened by the FIRB are subject to a “national interest test”.
The specific content of this test is not legislatively defined, and is decided on a case-by-case basis according to the judgement of the Treasurer. However, the FIRB does provide investors a set of ‘guidelines’, which outline five factors that are usually considered. These include: national security, competition policy, other Australian government policies and regulations (including environment and tax), the impact on the economy and community as a whole and the character of the investor.
There are also an additional set of six guidelines for the agricultural sector, which cover issues relevant for this industry such as land access, biodiversity, productivity and employment.
These guidelines were most recently re-issued in December 2015. However, they have remained relatively unchanged since the last major revision by the Rudd government in 2008, which was made in the wake of Chinalco’s intervention into a proposed BHP-Rio Tinto takeover. Significantly, none of these provisions express a requirement for local ownership in the agricultural sector.
In recent years, the overwhelming majority of investment applications assessed by the FIRB have passed the national interest test. In the relatively rare cases of rejection, it has consistently been for one of the above reasons. Examples include the ADM bid for GrainCorp <a href="https://jbh.ministers.treasury.gov.au/media-release/026-2013/">(</a>rejected in 2013 on competition policy grounds<a href="https://jbh.ministers.treasury.gov.au/media-release/026-2013/">)</a>, and the Singapore Stock Exchange’s attempted merger with the ASX (rejected in 2011 on financial regulatory grounds).
However, Scott Morrison’s preliminary decision to oppose Dakang Australia’s bid for S. Kidman and Co. fundamentally reinterprets these guidelines. Despite the fact the sale process was found to be open and commercially sound, it has been rejected.
The clear message is that sale process now needs to be re-run – with the assets disaggregated – to ensure less-competitive local companies can win at least some of the assets.
This is akin to moving the goalposts when the outcome is not what you desired. It is also inherently protectionist. It rewards Australian firms who will now get a second chance to pick up a part of the Kidman portfolio.
In essence, the Kidman decision is a de facto introduction of a local ownership policy for agricultural land. Outside of sensitive sectors (such as media), Australia has not maintained any formal local ownership rules since 1992. This makes the Kidman rejection was of the most significant foreign investment decisions made in several decades.
It is clear that the Treasurer sees Australian bidders as crucial to ensuring national interests are looked after, what is still not clear is definition of “foreign interest.”
<h2>How is foreign interest defined?</h2>
The Kidman decision comes as a senate inquiry examining the effectiveness of the Foreign Investment Review Framework finishes. The <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/Foreign_Investment_Review/Report">final</a> and supplementary reports from the inquiry point to a lack of consistency and transparency of foreign investment decision making between the states and the commonwealth, particularly regarding sales of agricultural land to foreign interest.
At the moment the Foreign Acquisition and Takeovers Act 1975 deals with any foreign people or corporations that are seeking to acquire or to merge with a whole or a part of an Australian business. If a transaction exceeds a certain limit (different limits are applied to different industries) it’s reviewed by the Foreign Investment Review Board(FIRB).
However this Act doesn’t have a definition of foreign interest. This is crucial because since 1975, the picture of the world has dramatically changed.
According to ABS, until late 1980s, Australia’s investing partners were mostly persons and companies from developed market economies. Therefore, there could be little concern that Australia’s foreign counterparts were different to investing domestic entities.
These companies were either seeking profit or also seeking company control as direct investors and usually didn’t report to or take directives from any government on commercial decisions.
In late 1980s, new market economies emerged in place of both former communist countries, and reforming and rapidly growing third world nations. In some of those nations, such as most counties that replaced the former USSR, as well as in China, different forms of mixed private and public ownership in companies have been established with different roles and powers of governments in companies' decision making.
Despite of large scale privatisation, state and mixed ownership is still important and increasingly so in Russia. By 2014 China has become the 7th largest foreign investor in Australia, ahead of such countries as Germany, New Zealand, France. Meanwhile, ownership is rarely straight forward in China; and the countries' 500 global companies are mostly state-owned.
However, the 1975 Act does not require that the FIRB to look into the proportion of foreign government’s ownership in a company; involvement of a foreign government in company’s decision making (particularly, through government’s representation on the board of directors); government’s orders that limit company’s commercial independence; or compliance with legislation beyond that which normally regulates commercial activities.
This issue could be addressed by including foreign interest independence test into the FIRB process. Such a test needs to deal with the magnitude of sovereign ownership and sovereign involvement in foreign company’s decision making.
The idea of such a test was suggested on one of the submissions to the review, but did not find it’s way to the report.
Gennadi Kazakevitch is deputy head, Department of Economics, Monash University and can be contacted <a href="https://theconversation.com/profiles/gennadi-kazakevitch-90201" target="_blank">here</a>.
Jeffrey Wilson is fellow of the Asia Research Centre, Murdoch University and can be contacted <a href="https://theconversation.com/profiles/jeffrey-wilson-12717" target="_blank">here</a>.
Both are authors for The Conversation.
 
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Morrison’s ruling on Kidman & Co sale redefines the national interest test

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Chinese developer Aohua Sheng Le Property has paid $32.3 million to acquire an 1856 square metre Southbank site.
The site at 107-117 Queensbridge Street extends to City Road, within walking distance of Crown casino.
It was put up for sale in February by over 20 property owners who cobbled their neighbouring office, residential and car park holdings into one offering, according to the AFR. 
Sheng Le also owns the neighbouring site at 87-105 Queensbridge Street.
CBRE received 11 offers shortlisted to four parties, two based locally and two from China.
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jonathanchancellor-7SQnKwU6yx

Chinese developer Aohua Sheng Le Property buys in Southbank

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Aquis Australia, controlled by Hong Kong billionaire developer Tony Fung, is buying a 1700 sum beachfront site in Surfers Paradise for more than $23 million.
The 3464-3466 Main Beach Parade is one of the last major beachfront development sites in the area and was created through the amalgamation of apartments in the Pacific Point apartment building and two adjoining properties, according to the Courier Mail.
It will be Fung's third major acquisition of a site in Surfers Paradise in a year.
The 1700 sqm site has 70m of beach frontage.
“Beachfront development sites are increasingly rare or come with major hurdles to development,” Fung was quoted as telling the Courier Mail.
Fung also controls the ASX-listed Aquis Entertainment that owns and operates Casino Canberra and is currently progressing plans a for a large-scale real estate and entertainment project at Yorkeys Knob, north of Cairns.
Last year, he paid $55 million for the former International Beach Resort on the Surfers Paradise Esplanade where he is said to be planning a Q1-scale apartment tower.
Last week, a consortium comprising Aquis Australia, CCCC International Holding Ltd and Tandellan Group completed the acquisition of a 1.05ha site bordered by the Gold Coast Highway, Palm Avenue, Cypress Avenue and Surfers Paradise Boulevard for $40 million.
Fung said he and his partners were considering a range of development options for the site.
“It is the last, large-scale undeveloped site in Surfers Paradise and presents a tremendous opportunity to create something special that will compete for attention on the world stage,” he said.
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HK's Tony Fung acquires another Surfers Paradise site for $23 million

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Singapore-listed Chinese property developer Chiwayland has listed its 2878-square-metre development site in Parramatta, in Sydney's west.
It seeks buyers through Knight Frank and CBRE after buying it just over a year ago. 
There has been a rezoning of the land - and a potential floor space lift to 15:1 from 10:1 - since the site at 14-20 Parkes Street sold.
The Australian Financial Review has been told the site could potentially yield more than 380 units if the lift is successfully negotiated with council. 
Chiwayland International is the property division of conglomerate Chiway Group and is involved in residential and commercial development in China, including affordable housing, office buildings and education.
The company entered the Australian market in 2014. 
The acquisition of the site in Parramatta cost $27 million in January last year with then plans to develop a residential tower with about 350 apartments.
Picture courtesy of Parramatta City Council
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Chiwayland list Parramatta development site

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Chinese investment in Australia returned to positive growth in 2015, with commercial real estate making up for the drop in investment in the mining sector, says a new report by KPMG Australia and the University of Sydney.
The return of the mega deal, with seven investments of $500 million or more during the year, helped propel the total value of investment to US$11.1 billion ($15.09 billion), a 32.9 percent increase on the previous year in US$ terms (or a 59.5 percent increase in AU$).
This was the second highest inflow year for new Chinese investment into Australia, behind the previous peak driven by mining sector investment in 2008, says the latest Demystifying Chinese Investment in Australia, analysing Chinese outbound direct investment into Australia in 2015. 
On an international stage, Australia maintained its position as the second largest recipient of aggregated Chinese direct investment between 2005 and 2015, behind the United States, attracting a cumulative US$78.7 billion during the period.
In Australia, commercial real estate remained dominant for the second year in a row, accounting for 45 percent of the total deal volume. Commercial real estate investment grew to $6.85 billion from $4.37 billion in 2014. NSW attracted 94 percent of this investment, with investors focusing more on long-term development projects.
China Investment Corporation’s $2.45 billion purchase of Investa Office Portfolio was the major deal of the year in this sector.
<img src="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%2010.29.04%20AM.png" alt="" width="471" height="370">
This year’s report also includes new research analysing the sentiment and attitudes of Chinese investors towards the Australian market.
“Following two years of moderately declining Chinese investment, the resurgence of interest and the diversification by Chinese companies in 2015 is a strong endorsement of the attractiveness of Australia’s economy. Alongside continued interest in the NSW and Victorian commercial real estate sectors, there has been activity and major deals in renewables, agribusiness, and for the first time, healthcare,” said report co-author, Doug Ferguson, head of KPMG Australia’s Asia and International Markets.
Professor Hans Hendrischke, Professor of Chinese Business &amp; Management at the University of Sydney Business School commented, “Our research has also shown that, for Chinese companies looking to expand internationally, Australia is seen as a strong first port of call."
The year also saw a lowering of the Foreign Investment Review Board limits for mandatory approval for agricultural land acquisition and the rejection of an application from a Chinese investor to purchase S Kidman &amp; Co – illustrating the sensitive and very public debate over investment in this sector. Nonetheless, Chinese investors are expected to remain strongly interested in Australian agribusiness.
Chinese investment in Australian infrastructure sector continued during the year, with the major deal being the 99-year lease of the Darwin Port to the Landbridge Group for $506 million. The outlook continues to look positive, with Chinese companies attracted to the strong local pipeline of opportunities offering relatively safe returns and a longer term investment horizon for co-operation.
Overall, Chinese investors remain bullish on Australia, with 65 percent saying their 3 year outlook is positive, and 55 percent planning to increase their Australian holdings in 2016.
 
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Commercial real estate tops Chinese investment in Australia in 2015: report

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GUEST OBSERVER
Tourists from greater China (China and Hong Kong) totalled 108,400 in February (mainland China 89,100, Hong Kong, 19,300), ahead of New Zealand (102,600).
Tourist arrivals from mainland China and Hong Kong rose to a record 1,326,076 over the past year (up 23.5 percent over the year) and just shy of tourists from New Zealand (1,326,851 visitors over the past year).
Migration: Over the past year, net permanent and long-term arrivals to Australia totalled 259,710 – the lowest level in nine years (February 2007).
Tourist arrivals fell by 2.7 percent in February. And departures fell from fresh record highs down by 3.3 percent. The tourism data is important for airlines, travel groups, transport companies and retailers.
<a href="/images/2016/04/7/Screen%20Shot%202016-04-07%20at%202.38.48%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/7/Screen%20Shot%202016-04-07%20at%202.38.48%20PM.png" alt="">
What does it all mean?
The China tourist boom continues to pay dividends. The number of tourists to Australia from China and Hong Kong combined exceeded well over 1.3 million in the past year – and is closing fast on the visitors from New Zealand. In fact the difference is only 775 tourists. And with China and Hong Kong tourist numbers continuing to grow at a 23 percent plus annual rate, there are more landmark results likely to be recorded over the next few months. It is even more remarkable when you consider that just over four years ago Chinese tourist numbers were around half those of New Zealand.
Clearly our number one tourist group is up for grabs with China and Hong Kong likely to take the top spot within a month. The new winners from the China boom are tourist operators and retailers rather than mining companies that benefitted in the first stage of the China boom.
Tourists from mainland China is fast closing in on 1.1 million in the past year, up 24 percent over the past year.
While some may fret about the slowdown in the Chinese industrial sector, the more forward-thinking analysts are focussing on the boost to Australian retailers from increased spending by Chinese consumers and the growing number of Chinese tourists.
The rebalancing continues to be taking place across the economy. No doubt the weaker Aussie dollar is helping to alleviate some of the pressures for the weaker investment story. And from the Reserve Bank’s standpoint there is nothing to do but to monitor the transitions to ensure that the process moves as smoothly as possible.
What do the figures show?
Overseas arrivals &amp; departures
Tourist arrivals  fell by 2.7 pe cent in February. And departures  fell from fresh record highs down by 3.3 percent. Arrivals are up 5.9 percent on the year with departures up 1.7 per cent.
In February, tourists from greater China (China and Hong Kong) totalled 108,400 (mainland China 89,100, Hong Kong, 19,300), ahead of New Zealand (102,600). Greater China passed NZ for the first time in September.
Over the past year a record 1,076,800 tourists came to Australia from China, up 23.6 percent over the year. Tourists from China and Hong Kong rose to a record 1,326,076 over the past year, up 23.5 percent over the year. Tourists from New Zealand totalled 1,326,851 visitors over the past year, but were up just 6.6 percent.
Over the past year, net permanent and long-term arrivals  to Australia totalled 259,710 – the lowest level in nine years (February 2007).
What is the importance of the economic data?
The Australian Bureau of Statistics releases data on overseas arrivals and departures  is produced monthly and is an indicator of the health of the tourism sector. The figures are also useful in understanding spending trends and tracking migrant numbers – an indicator with widespread implications for employment, housing and spending.
What are the implications for interest rates and investors?
Looking forward, not only will the fall in the Aussie dollar drive further tourism inflows, but it should provide an additional degree of support to the domestic tourism sector. Over time, the cheaper currency should make it more attractive to travel within Australia rather than overseas. Tourism has potential to join housing as a key driver of the Australian economy over the coming year, especially if the Aussie dollar falls further.
In-bound migration is holding just shy of the lowest levels in nine years, meaning that there is greater scope for unemployment to fall in the short-term before businesses have to start looking abroad for suitable staff.
The Reserve Bank will remain on the interest rate sidelines over the next few months.
<a href="/images/2016/04/7/Screen%20Shot%202016-04-07%20at%202.47.23%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/7/Screen%20Shot%202016-04-07%20at%202.47.23%20PM.png" alt="" width="1129" height="366">
Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a> 
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Chinese tourism boom, migration at nine-year lows: CommSec's Savanth Sebastian

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Marketing to Chinese consumers is a hot topic for all businesses across different sectors. A common misperception for businesses is that they need to be in China to sell to Chinese consumers.

This has prompted developers and agencies to invest in roadshows, exhibitions and seminars at China’s prime real estate and events, only to result in expensive failures. With the growing Chinese population in Australia, sellers need not look too far in reaching out to their prospective Chinese buyers.

At ACproperty.com.au we believe there are three reasons why you should begin your marketing locally before embarking on overseas marketing investments:

<h2>1. Chinese buyers rely on word of mouth recommendations from Australians</h2>

The most effective and efficient way of marketing to mainland Chinese buyers is to build a loyal following among the local Chinese communities, who can endorse your brand.

Most prospective mainland Chinese buyers have friends and relatives living in Australia. This is one of the biggest reasons that influences their decision to migrate to Australia. The first thing most of them will do is to speak their relatives living in Australia, to understand which area is suitable for their lifestyle and to gain recommendations on <a href="/developments">property investments</a>, <a href="/developers">developers</a> or real estate agents.

Glen Waverly High and Balwyn High are classic examples on the success of word of mouth recommendations. None of the schools have advertised in China, yet every prospective mainland Chinese buyers would have heard of Glen Waverley and Balwyn School zones.

Speaking from experience, ACproperty.com.au has been enjoying tremendous success as evident from our 65% growth of inbound traffic from China for the past 3 years, while mainly concentrating our marketing efforts on the local Chinese communities and student associations.

<h2>2. Chinese migrants in Australia are buying properties too</h2>

A significant amount of our web traffic is from high quality leads in Australia. Agents and developers alike will find a group of high conversion Chinese customers right under their noses.

The value in targeting this group grows exponentially once we realise that this is the same group that will be recommending your brand to their peers overseas.

<h2>3. Chinese buyers want authentic and unbiased local property information</h2>

A consistent piece of feedback we receive from our users is that when buying Australian property, they prefer to access an <a href="/">Australian site</a> (vs. Chinese-based sites) so they can access vital local Australian market experience. Our Chinese Concierge Team are constantly receiving calls from buyers wanting to validate information they receive from Chinese sources, which they perceive as biased or incomplete.

To successfully capture the Chinese market, developers and agents should first market to the local Chinese communities, cultivating a loyal following before expanding into overseas marketing. Not only are they potential buyers, they are also huge influencers of their overseas peers.

Chinese buyers also view Australian sites and sources as more trustworthy and knowledgeable. Australian agents and developers should leverage this inherent credibility to reach international customers and ensure their brand is top of mind among the Chinese community to successfully capture the Chinese market.

Esther Yong is the co-founder and director of ACproperty.com.au. She was recently named one of the most powerful women in property by Domain and was also the keynote speaker at Property Portal Watch in New York during January 2016.
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Esther Yong

The top three reasons why you should market locally to succeed in China

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The ANZ Banking Group has closed the door on some foreign buyers wanting to invest in Australian real estate using overseas funds.
The bank insists on original copies of untranslated supporting documents required for a loan application and tightened passport scrutiny, such as foreign applicants having to provide all stamped pages. 
It comes amid concerns by property developers that a decline in bank lending to investors, capital controls imposed in China and confusion about state planning policies, particularly in Melbourne, might slow investments.
Mortgage brokers claim the moves are targeting the Chinese market, which has spent billions of dollars on Australian residential property, particularly in Melbourne and Sydney.
The bank will not accept loan applications based solely on foreign income.
"Applications based on 100 per cent foreign income will not be accepted," the bank has told mortgage brokers.
For borrowers seeking loans based on more than 50 per cent of foreign income, there are measures about the size and source of funding.
There is a maximum loan-to-value ratio of 70 per cent, no loans in a company name, no guarantor arrangements and restricted construction lending.
There are tough controls on refinancing of existing loans, which involves borrowers attempting to get better terms and conditions for their loans.
Foreign salary earner applicants must pass six stringent documentation tests that include providing comprehensive employment contracts, tax returns, current visa documentation and original, untranslated supporting documents.
The Australian Financial Review says that expatriate Australians working overseas will not be impacted by the lending restrictions but will be required to provide the extra documentation.
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ANZ introduces stricter lending rules for foreign buyers

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Chinese tourists spent a record $8.3 billion during their stay in Australia in the year to December, according to Tourism Australia, a 45 per cent jump over the previous period and a key factor in revitalising the country's retail sector.
And with four Chinese airlines – China Southern, Air China, China Eastern, and Sichuan Airlines - delivering travellers to Melbourne’s Tullamarine Airport on 33 direct-to-Melbourne flights each week, Melbourne is reaping the benefits, according to new research by Savills.
Savills Australia’s Victorian Retail Service director Michael Di Carlo said the Chinese spend had contributed to reviving Melbourne’s CBD retail market which has shown a steady decline in vacancy over the last five years, according to Savills research.
"Chinese tourists are a very significant market for Melbourne retailers. They have strong links with Melbourne through a well-established Chinese residential and business community as well as a large Chinese student population," said Di Carlo.
"Australia’s lower dollar has also meant a much more favourable exchange rate in recent years and that has, perhaps more than anything else, driven what is a remarkable increase in the total tourist spend.’’ 
He said the recent influx of international fashion brands to Australia’s fashion capital had also been an important factor.
"Wealthier Chinese are keen buyers of luxury items and not averse to travelling abroad to take advantage of relatively inexpensive purchases,’’ he said.
According to a report by Shanghai-based consultants Fortune Character Institute, Chinese consumers are expected to remain the biggest spenders in the global market this year, accounting for 46 per cent of worldwide sales of luxury goods with 78 per cent of the purchases made overseas.
Estimations by the Chinese Ministry of Commerce put the average price of luxury goods in China at 45 per cent higher than Hong Kong, 51 per cent higher than the United States, and 72 per cent higher than France.
Savills Retail Services executive Jock Thomson said a boom in the pharmaceutical and health products trade in Melbourne’s CBD had also been driven by Chinese buyers on the back of concerns about the safety and reliability of those products produced in China.
He said the number of pharmaceutical and health product shops in Melbourne’s CBD had risen 46 per cent over past five years, according to Savills research.
"This is an extraordinary rise which cannot be explained by typical market trends, rather it is driven by issues that Chinese consumers have with home grown health products forcing them to look elsewhere for those products,’’ Thomson said.
He said recent leasing deals in the Melbourne CBD included Redhill Health at 117 Swanston Street and Great Earth, which has three stores in the Melbourne CBD, alongside the plethora of pharmacies along Elizabeth Street.
"Enquiry has increased markedly over the last 12 months particularly with prospective tenants looking to capitalise on what is a booming market. Walk into any of those pharmacies, and one will see Chinese tourists with baskets full of Australian vitamins and health-based products,’’ he said.
Thomson said the rise in Australian health products maker Blackmore’s nearly ten-fold share price to to $217.98 on December 21, 2015 from $20.51 on December 20, 2013 had apparently much to do with the lucrative Chinese market, which makes up more than a third of Blackmores’ sales.
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